Luckin Coffee sells more shares than planned in IPO

Men check their mobile phones outside a Luckin Coffee store in Beijing, China. Picture: REUTERS/JASON LEE

Each ADS represents eight class A shares, the company said in a filing with the US Securities and Exchange Commission last week. Luckin currently operates 2,370 shops across China and plans to open 2,500 more in 2019 with the goal of displacing Starbucks as China's largest coffee chain.

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